Big tech companies are becoming increasingly important in the healthcare industry because of their ability to leverage their expertise in technology and data analysis to improve the delivery and effectiveness of health care services. By incorporating AI, machine learning, and other advanced technologies, big tech companies can help to improve the accuracy of diagnoses, the efficiency of medical processes, and the overall quality of health care. For example, some big tech companies are developing AI-powered diagnostic tools that can analyze medical images and other data to identify diseases and other health conditions more accurately and faster than human doctors. Other big tech companies are working on developing wearable devices and other technologies that can monitor and track an individual’s health, and can provide real-time feedback and guidance to help them maintain good health and prevent disease. By using their expertise in technology and data analysis, big tech companies can help to improve the efficiency, effectiveness, and accessibility of health care services, and can also help to reduce the cost and burden of illness on individuals and society as a whole.
The $3 trillion healthcare industry is getting a makeover, as the largest names in technology have launched numerous health-related initiatives involving scientific research, health analysis via interactive devices, A.I.-assisted medical tools, health insurance modelling, clinic development, healthcare application process, and more.
For example, Microsoft and China’s Tencent captured almost 75 percent of all startup digital health investment deals last year and Amazon has acquired or partnered with numerous healthcare providers for its health-related A.I. research. Amazon also secured HIPPA compliance status for its Alexa voice assistant, while Google acquired Fitbit and teamed up with one of the largest health-care systems in the U.S. to analyze personal health data in 21 states.